The Spanish gas and power provider, which has invested heavily in wind power over the past years, is increasing investments in solar energy projects.
After its 1.5 GW tender stirred unprecedented interest among developers attracting technical bids of 3.7 GW, the Tamil Nadu utility is now set to sign PPAs at the rate of INR 3.47 (~$0.054)/kWh for a period of 25 years.
CleanMax Solar, India’s largest rooftop solar developer, will use the private equity investment to fund growth opportunities outside India.
The funding is for 48 identified solar projects spanning two SunShot programs designed to advance solar power technologies in the U.S.
Although originally opened for two months between February and April, InnoEnergy’s Investment Round for the year 2017 is now accessible all year round to support innovative solutions that may reshape the future of the energy industry.
The International Energy Agency’s World Energy Investment report sees global spending on energy fall by 12% overall in 2016, marking the second-consecutive year that investment has dropped as less money is poured into costly gas and oil infrastructure. Clean energy spending, meanwhile, is on the up.
Despite a robust first quarter, Mercom CEO Raj Prabhu says the uncertainty surrounding the Suniva trade case caused a dip in the second quarter and could have devastating effects going forward.